Agthia Group, a major player in the food and beverage sector in MENA, is to enter into a strategic acquisition of 60% of Auf Group, an Egyptian healthy snacks and coffee company operating under the Abu Auf masterbrand, with a large direct-to-consumer channel.
Auf Group’s founders will retain a combined stake of 30%, and Tanmiya Capital Ventures, an Egyptian private equity firm which invested in Auf Group in 2019, also remains a committed shareholder with a 10% stake. The transaction is expected to be completed within the next few months, subject to obtaining regulatory approvals.
Established in 2010, Auf Group processes, manufactures, retails and distributes a broad portfolio of products across Egypt including coffee, nuts, healthy snacks and other confectionery products. The transaction provides Agthia with a footprint in the attractive Egyptian snacking market.
Freshfields Bruckhaus Deringer is acting as international legal counsel, and Matouk Bassiouny & Hennawy (“MBH”) as Egyptian counsel, to Agthia Group. CI Capital is acting as financial advisor to Agthia Group.
The MBH team assisting on the transaction was led by Omar S. Bassiouny (founding partner and head of corporate and m&a, pictured) and Hazem El Guindy (partner) and included Mohamed Al Degwy (partner), Fady Youssef (senior associate), Alaa Mobarez (senior associate) and Mohamed Gibril (associate).
Agthia Group legal team is led by Mohammad Amro, group general counsel & corporate secretary at Agthia Group.